NSE places temporary ban on eight derivatives

15 Oct 2007 email

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India’s National Stock Exchange (NSE) has placed a ban on trading eight of its derivatives stock contracts after they crossed the 95% market-wide position limit.

The derivative contracts in the underlying IFCI, Escorts, Triveni, TTML, OMAXE, Nagarfert, Arvindmill & Adlabsfilm all surpassed the position limit and members will only be allowed to trade the derivatve of each contract in order to decrease their positions through offsetting positions.

Any increase in open positions shall attract appropriate penal and disciplinary action, the exchange said in a notice to members.

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